Tax & Structuring

Collectables Capital gains tax does not just apply to “big ticket” items such as real estate, farms and shareholdings. It also applies to a special class of assets known as “personal use assets” and, in particular, those personal use assets known as “collectables”. “Collectables” are specifically defined under the tax law to mean the following [...]

From bushfire relief groups, sporting clubs, environmental groups, charity associations and many more, volunteers are an indispensable workforce and support network for many organisations. For most, if not all, having volunteers ready to lend a hand is pivotal in them being able to function or survive. Given that there are many hundreds of volunteers propping [...]

Unfortunately our financial institutions have not always acted as ethically as we consumers would like. Whether you’ve received bad advice or paid for advice you didn’t receive at all, our supervisory and regulatory bodies have sought not only to improve the system so it won’t happen again, but also to ensure that if you are [...]

Give yourself the ultimate gift that doesn’t cost a thing – a super to-do list which is a gift that will benefit you now and in the future. Consolidate your super With over 10 million unintended multiple superannuation accounts, these multiple accounts are costing Australians an extra $690 million in duplicated administration fees and $1.9 [...]

Now and then, taxpayers may find themselves in a situation where they simply have no records to back up a tax claim. There can be many reasons for this, such as losing documents (either paper or electronic) when moving home, or technology failures that end up with the same result (or worse, destroyed records). And [...]

The ATO knows that many business owners naturally help themselves with their trading stock and use it for their purposes. This common practice can occur in businesses such as butchers, bakers, corner stores, cafes, and more. The ATO regularly issues guidance for business owners on the value it expects will be allocated to goods taken [...]